SCOTTSDALE, Ariz., Sept. 5, 2019 /PRNewswire/ -- Healthcare
Trust of America, Inc. ("HTA") (NYSE: HTA) announced today that its
operating partnership, Healthcare Trust of America Holdings, LP
("HTALP" and, together with HTA, the "Company"), priced a
$250 million offering of HTALP's
3.500% senior unsecured notes due 2026 (the "2026 Notes") and a
$650 million offering of HTALP's
3.100% senior unsecured notes due 2030 (the "2030 Notes" and,
together with the 2026 Notes, the "Notes") under its existing shelf
registration statement. The 2026 Notes will be issued as additional
notes under an indenture pursuant to which, on July 12, 2016, HTALP issued $350.0 million aggregate principle amount of
3.500% Senior Notes due 2026. The 2026 Notes were priced at
103.660% of the principal amount plus accrued interest from
August 1, 2019, with a re-offer yield
of 2.889%, and the 2030 Notes were priced at 99.658% of the
principal amount. The closing of the offering is expected to occur
on September 16, 2019, subject to the
satisfaction of customary closing conditions.
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The Company intends to use the net proceeds of this offering (i)
to redeem all of HTALP's outstanding 3.375% Senior Notes due 2021
and 2.950% Senior Notes due 2022, (ii) to repay a portion of the
outstanding indebtedness under its unsecured revolving credit and
term loan facility and (iii) for general corporate purposes,
including, without limitation, working capital and investment in
real estate.
BofA Securities, Inc., J.P. Morgan Securities LLC, U.S. Bancorp
Investments, Inc. and Wells Fargo Securities, LLC are acting as
joint book-running managers and representatives of the underwriters
for the offering. BMO Capital Markets Corp., Capital One
Securities, Inc., Jefferies LLC, Morgan Stanley & Co. LLC and
MUFG Securities Americas Inc. are acting as joint book-running
managers for the offering. Acting as co-managers are BBVA
Securities Inc., Fifth Third Securities, Inc., Regions Securities
LLC and Scotia Capital (USA)
Inc.
A registration statement relating to these securities has been
filed with and declared effective by the Securities and Exchange
Commission (the "SEC"). The offering of the Notes is being made
solely by means of a prospectus supplement and the accompanying
prospectus. You may obtain copies of the prospectus supplement and
accompanying prospectus without charge from the SEC at
www.sec.gov. Alternatively, you may request copies of these
documents relating to the offering, when available, from: BofA
Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd
floor, Charlotte NC 28255-0001, Attn: Prospectus Department,
Email: dg.prospectus_requests@baml.com; J.P. Morgan Securities LLC,
Attention: Investment Grade Syndicate Desk – 3rd Floor,
383 Madison Avenue, New York, New
York 10179, at telephone no. (212) 834-4533; U.S. Bancorp
Investments, Inc., Attention: Credit Fixed Income, 214 N.
Tryon Street, 26th Floor,
Charlotte, North Carolina 28202,
at telephone no. (877) 558-2607; or Wells Fargo Securities, LLC,
Attention: WFS Customer Service, 608 2nd Avenue South,
Suite 1000, Minneapolis, Minnesota
55402, at telephone no. (800) 645-3751 or email a request to
wfscustomerservice@wellsfargo.com.
This announcement shall not constitute an offer to sell or a
solicitation of an offer to buy the Notes, nor shall there be any
sale of the Notes in any jurisdiction in which such offer,
solicitation, or sale would be unlawful under the securities laws
of any such jurisdiction.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. is the largest dedicated owner
and operator of medical office buildings in the United States, comprising approximately
23.3 million square feet of gross leasable area, with $6.9 billion invested primarily in medical office
buildings. HTA provides real estate infrastructure for the
integrated delivery of healthcare services in highly-desirable
locations. Investments are targeted to build critical mass in
20 to 25 key markets that we believe have superior demographics
that support strong, long-term demand for medical office
space. HTA utilizes an integrated asset management platform
consisting of on-site leasing, property management, engineering and
building services, and development capabilities to create complete,
state of the art facilities in each market. Headquartered in
Scottsdale, Arizona, HTA has
developed a national brand with dedicated relationships at the
local level.
Forward-Looking Statements
This press release contains certain forward-looking
statements. Forward-looking statements are based on current
expectations, plans, estimates, assumptions and beliefs, including
expectations, plans, estimates, assumptions and beliefs about the
Company, stockholder value and earnings growth.
The forward-looking statements included in this press release
are subject to numerous risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. Assumptions relating to
the foregoing involve judgments with respect to, among other
things, future economic, competitive and market conditions and
future business decisions, all of which are difficult or impossible
to predict accurately and many of which are beyond the Company's
control. Although the Company believes that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, the Company's actual results and
performance could differ materially and in adverse ways from those
set forth in the forward-looking statements. Factors which
could have a material adverse effect on the Company's operations
and future prospects include, but are not limited to:
- the Company's ability to effectively deploy proceeds of
offerings of securities;
- changes in economic conditions affecting the healthcare
property sector, the commercial real estate market and the credit
market;
- competition for acquisition and development of medical office
buildings and other facilities that serve the healthcare
industry;
- the Company's ability to acquire or develop real properties,
and to successfully operate those properties once acquired or
developed;
- economic fluctuations in certain states in which the Company's
property investments are geographically concentrated;
- financial stability and solvency of the Company's tenants,
including the ability and willingness of the Company's tenants or
borrowers to satisfy their obligations under their respective
contractual arrangements with the Company;
- the ability and willingness of the Company's tenants to renew
their leases with the Company upon expiration of the leases or the
Company's ability to reposition its properties on the same or
better terms in the event of nonrenewal or in the event the Company
exercise its right to replace an existing tenant;
- fluctuations in reimbursements from third-party payors such as
Medicare and Medicaid;
- supply and demand for operating properties in the market areas
in which the Company operates;
- changes in operating expenses of the Company's properties
including, but not limited to, expenditures for property taxes,
property and liability insurance premiums, and utility rates;
- the Company's ability and the ability of its tenants to obtain
and maintain adequate property, liability and other insurance from
reputable, financially stable providers;
- restrictive covenants on certain of the Company's properties
subject to ground leases that may restrict or limit the uses of its
properties and the types of tenants the Company is able to lease
to, and the Company's ability to attract new tenants;
- the impact from damage to the Company's properties from, or
increased operating costs associated with, catastrophic weather and
other natural events and the physical effects of climate
change;
- retention of the Company's senior management team and its
ability to attract and retain qualified key personnel;
- legislative and regulatory changes, including changes to laws
governing the taxation of real estate investment trusts ("REITs")
and changes to laws governing the healthcare industry;
- changes in interest rates, including changes as a result of the
potential phasing out of the London Inter-bank Offered Rate;
- the availability of capital and financing;
- restrictive covenants in the Company's existing credit
facilities;
- changes in the Company's credit ratings;
- the HTA's ability to remain qualified as a REIT;
- changes in accounting principles generally accepted in
the United States of America,
policies and guidelines applicable to REITs; and
- the risk factors set forth in the Company's most recent Annual
Report on Form 10-K and in the Company's most recent Quarterly
Reports on Form 10-Q.
Forward-looking statements speak only as of the date made.
Except as otherwise required by the federal securities laws, the
Company undertakes no obligation to update any forward-looking
statements to reflect the events or circumstances arising after the
date as of which they are made. As a result of these risks
and uncertainties, readers are cautioned not to place undue
reliance on the forward-looking statements included in this press
release or that may be made elsewhere from time to time by, or on
behalf of, the Company.
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SOURCE Healthcare Trust of America, Inc.